Wickes posts strong sales growth
Travis Perkins has reported that full year like-for-like sales at its Wickes DIY chain climbed by 5.5% despite disruption to trading operations due to Covid-19 lockdowns.
The group said the performance in the year to 31 December was driven by strong core DIY sales growth of 19.3% as it benefited from customers becoming more interested in home improvements during the pandemic.
However, sales of kitchens and bathrooms were hit by Covid-19 restrictions on the opening of showrooms, which meant sales in the category were down 27.4% in the period.
Travis Perkins has also announced that it is to restart the process for the demerger of Wickes which was put on hold in March.
Nick Roberts, Travis Perkins chief executive, said: “I am pleased today to be able to confirm that the process to demerge Wickes has recommenced. The Wickes digitally-led model has proved highly effective during the pandemic and the business is in great shape to embark on its journey as a standalone entity.”
